Home Business NewsBusiness Banks to replace billions of £20 notes

Banks to replace billions of £20 notes

by LLB Editor
21st Feb 20 11:57 am

The Bank of England has begun the massive task of destroying £40bn-worth of paper banknotes, which will be replaced by new polymer £20 notes.

Around two billion paper notes will be withdrawn and composted to be used as a soil improver for agriculture.

“It’s an enormous operation the general public will barely notice,” said Mark Saunders of G4S, which handles two-thirds of Britain’s banknotes.

The replacement of the two billion notes will be the biggest cash replacement in UK history.

Leave a Commment

You may also like

CLOSE AD

Sign up to our daily news alerts

[ms-form id=1]